Unhappy with Burberry's investors doff GUS stock
Article Abstract:
Burberry's, a luxury fashion retailer based in the UK, has posted a 60% decline in profits to 24.9 million pounds sterling in fiscal 1997 ending March 31, 1998, from 62 million pounds sterling in fiscal 1996. Burberry's revenues declined by 6.7% to 254 million pounds sterling from 272.7 million pounds sterling. The decline, which also affected parent company and catalog retailer, Great Universal Stores PLC (GUS), was attributed to the economic crisis in Asia. Investors were very disappointed as share prices of GUS decreased by 45.5 pence to 804.5 pence. GUS also announced that further decline of Burberry's profits should be expected.
Comment:
Posts a 60% decline in profits to GBP24.9 mil in FY 1997 from GBP62 mil in FY 1996
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Burberry remains cloaked in optimism
Article Abstract:
Burberrys, part of retail and business service group GUS PLC, posted a 15% decrease in retail store sales in the three weeks after the Sept. 11 terrorist attacks, versus the year-earlier period. Despite the loss, the clothier will continue with its planned IPO.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
GUS plans to list up to 25% of Burberry
Article Abstract:
Great Universal Stores PLC (GUS) is planning to list a minority share of Burberry on the London Stock Exchange. Burberry, which posted a sixfold increase in its sales for the 2000 first-half, will list 25% of its shares.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: European investors shy from buying U.S. stocks. Pressure mounts on stocks
- Abstracts: Wary investors may avoid KPN's offering of new shares. BT plans to break itself into two businesses
- Abstracts: Gap Shuffles Managers As Sales Decline Further. Net retailer FTD.com posted profit in quarter. Washington Mutual takes Manhattan, extends empire
- Abstracts: Strong quarter gives Adidas shot at goal. Adidas-Salomon 9-mo earnings could weigh on shares
- Abstracts: Leo Kirch takes control of ProSieben Network. Cash woes cloud Kirch's empire